It took less than a day to debunk the mantra that markets are in an era of low volatility. As the shockwaves ripple out from this week’s ructions, another truism — that investors should “buy the dip” — faces scrutiny.
Robust global growth and corporate earnings momentum favour holding equities, some analysts and investors say, even as interest rates rise and central banks slowly retreat from very supportive monetary policy.
“Clearly, the well of optimism that led US equities to new highs has run dry, at least temporarily,” says Craig Burelle, an analyst at Loomis Sayles. “But the global economy remains on firm footing, and that has not changed over the past few trading sessions.”
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